Ghana Has Turned the Corner; Stability Is Back, Ghanaians Can Breathe Again” – Ato Forson
Finance Minister Dr Cassiel Ato Forson has declared that Ghana’s economy has regained stability and investor confidence, assuring Ghanaians that the country is gradually emerging from years of economic difficulties.
He said the improvements in economic conditions had created the breathing space needed to pursue sustainable growth, expand production, create jobs and improve the living standards of citizens.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Dr Forson described the restoration of economic stability and confidence as a significant milestone in Ghana’s economic recovery.
“Ghana has made significant gains. Stability has returned. Confidence is back. And Ghanaians can breathe again. Now, Mr Speaker, Ghana must decide what to do with that breathing space. That decision will shape the lives of millions of Ghanaians and improve their circumstances,” he stated.
The Finance Minister, however, cautioned that the country must not become complacent about the gains made, stressing that the next phase of the economic recovery must focus on translating improved macroeconomic conditions into tangible benefits for ordinary citizens.
He identified young graduates seeking employment, farmers in need of reliable markets, traders whose capital had been eroded by inflation, pensioners affected by the debt restructuring programme and entrepreneurs struggling to access affordable, long-term financing as groups whose circumstances must improve.
According to him, economic recovery should not be measured solely by favourable economic indicators but by its impact on household incomes, employment opportunities and the overall wellbeing of Ghanaians.
Dr Forson warned against a return to the recurring boom-and-bust cycles that have historically undermined the country’s economic progress, noting that successive governments had struggled to sustain periods of economic growth.
“Our people have experienced repeated episodes of hope, followed by hardships, growth, followed by instability, fiscal expansion, followed by painful correction, a stable currency, followed by sharp depreciation, and now new opportunities, followed by job losses,” he said.
“These boom and bust cycles must cease, Mr Speaker,” he emphasised.
He described the 2027 Budget as a critical turning point in Ghana’s economic journey, saying the country must now move beyond stabilisation towards sustained production, industrialisation, private-sector expansion and job creation.
Dr Forson also drew inspiration from Ghana’s post-independence economic aspirations, invoking the vision of the country’s first President, Dr Kwame Nkrumah, who championed economic emancipation as an essential complement to political independence.
“At independence, Ghana carried the hope of Africa. We had natural and human resources and a place of distinction in the world. Admired and respected by many, a successful Dr Kwame Nkrumah understood that political freedom required economic emancipation,” he recalled.
He noted that Nkrumah and his generation pursued an ambitious vision of an industrialised Ghana, supported by reliable electricity, modern infrastructure, quality education and strong state institutions.
The Finance Minister maintained that Ghana must reclaim that ambition by building a productive and resilient economy capable of delivering sustainable prosperity and improving the lives of present and future generations.
Source: Felix Nyaaba/expressnewsghana.com
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